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Several major businessmen and philanthropists, whose names will be disclosed to the public in the near future, have expressed readiness to help post the bail for the release of Armenia’s second President Robert Kocharyan, Viktor Soghomonyan, the head of the ex-president’s office, said in a statement on Friday.

The Yerevan Criminal Court of Appeals ordered on Thursday that Kocharyan be released from prison on bail pending the outcome his trial. The court set a 2 billion-dram bail (approx. $4.2 million) for the former president’s release, with the sum to be paid within two days.

Welcoming the court ruling to release Kocharyan after “around 500 days of unlawful arrest”, Soghomonyan at the same time questioned the “unprecedented” amount of the bail never set by any court in Armenia before.

According to Kocharyan’s office, immediately after the verdict was issued, they received numerous phone calls from hundreds of individuals, including a number of major businessmen and philanthropists, who expressed their willingness to help pay the hefty sum as much as they can.

On behalf of Kocharyan and his family, Viktor Soghomonyan expressed gratitude to all those who have supported them.

"I am confident that what happened is only the first step towards restoring justice," he concluded.